Qatar Developer Wins Partial Tax Refund on London Luxury Project

The Qatar-backed developer of London’s prized Chelsea Barracks site is entitled to an 11.6 million pound ($16.5 million) repayment of stamp duty land tax, the U.K.'s First-tier Tribunal (Tax) found in a decision published Tuesday.

Project Blue Ltd, an investment vehicle of Qatari Diar Real Estate Investment Co., had demanded the return of 11.6 million pounds of the 50-million-pound stamp duty land tax it had to pay on the approximately 1.25 billion pound acquisition of the Chelsea Barracks development, a collection of luxury apartments, penthouses and townhouses spread over 13 acres of residential real estate in central ...